CURRENT REPORT UNDER SECTION 17 OF THE SECURITIES REGULATION CODE AND SRC RULE 17.2(c) THEREUNDER
1. Date of Report (Date of earliest event reported)
Dec 22, 2017
2. SEC Identification Number
A-1997-18963
3. BIR Tax Identification No.
005-011-651-000
4. Exact name of issuer as specified in its charter
ASIA UNITED BANK CORPORATION
5. Province, country or other jurisdiction of incorporation
Pasig City, Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
Joy-Nostalg Center No. 17 ADB Avenue, Ortigas Center, Pasig CityPostal Code1600
8. Issuer's telephone number, including area code
(632) 631-3333 / (632) 638-6888
9. Former name or former address, if changed since last report
Not Applicable
10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class
Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common Stock
485,310,538
11. Indicate the item numbers reported herein
Item 4
The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.
Asia United Bank CorporationAUB
PSE Disclosure Form 4-8 - Change in Directors and/or Officers (Resignation/Removal or Appointment/Election) References: SRC Rule 17 (SEC Form 17-C) and Section 4.4 of the Revised Disclosure Rules
Subject of the Disclosure
Future Change in Leadership of AUB
Background/Description of the Disclosure
Please be advised that the Chairman of the Bank’s Board of Directors, Mr. Jacinto L. Ng, Sr., has announced his intention to retire as Chairman and as member of the Board after December 31, 2017. Mr. Ng, however, has agreed to continue on as Chairman Emeritus after his retirement.
On January 1, 2018, Upon the effectivity of Mr. Ng’s retirement, the current President of the Bank, Mr. Abraham T. Co, will be assuming the Chairmanship, subject to compliance with the nomination and election process for the Bank’s executive officers under the Bank’s Manual on Corporate Governance as well as other regulatory processes.
On the other hand, Mr. Manuel Gomez will become member of the Board of Directors and President of the Bank as Mr. Co’s replacement; likewise be subject to compliance with the nomination and election process for the Bank’s directors and officers under the Bank’s Manual on Corporate Governance and other regulatory processes.
Further, the nomination and appointment of Mr. Abraham T. Co as officer as well as Mr. Manuel Gomez as director and officer are subject to the approval of the Board of Directors of AUB in a meeting that shall be held on a later date.
Finaly, Mr. Jacob C. Ng, currently a member of the Board and concurrent Chief Transformation Officer and Head of Consumer Lending will become the Bank’s Chief Transformation Officer and Head of Branch Banking, also effective January 1, 2018.
OTHER INFORMATION All of the foregoing changes in the directors and officers of the Bank will take effect on January 1, 2018.
Resignation/Removal or Replacement
Name of Person
Position/Designation
Effective Date of Resignation/Cessation of term (mmm/dd/yyyy)
Reason(s) for Resignation/Cessation
Jacinto L. Ng, Sr.
Chairman
01/01/2018
Retirement
Election or Appointment
Name of Person
Position/Designation
Date of Appointment/Election (mmm/dd/yyyy)
Effective Date of Appointment Election (mmm/dd/yyyy)
Shareholdings in the Listed Company
Nature of Indirect Ownership
Direct
Indirect
Manuel A. Gomez
Director
11/22/2017
01/01/2018
9,840
0
0
Promotion or Change in Designation
Name of Person
Position/Designation
Date of Approval (mmm/dd/yyyy)
Effective Date of Change (mmm/dd/yyyy)
Shareholdings in the Listed Company
Nature of Indirect Ownership
From
To
Direct
Indirect
Abraham T. Co
President
Chairman
12/22/2017
01/01/2018
150
0
0
Manuel A. Gomez
EVP / Head of Branch Banking
President
11/22/2017
01/01/2018
9,840
0
0
Jacob C. Ng
Chief Transformation Officer and Head of Consumer Lending
Chief Transformation Officer and Head of Branch Banking
TBA
01/01/2018
9,450
0
0
Other Relevant Information
The amendments to this template are as follows:
22 December 2017 1. Indicated Date of Approval on Change in Designation of Mr. Abraham T. Co
22 November 2017 1. Indicated the Date of Election of Mr. Manuel A. Gomez. 2. Indicated the Date of Approval on Change in Designation of Mr. Manuel A. Gomez.
26 October 2017 1. The Background/Description of the Disclosure to indicate that the nomination and appointment of Mr. Abraham T. Co as officer as well as Mr. Manuel Gomez as director and officer are subject to the approval of the Board of Directors of AUB in a meeting that shall be held on a later date. 2. The addition of Manuel A. Gomez to the Election or Appointment field. 3. The change in date of approval to TBA on the appointment / election which will be indicated at a later date.
As abovementioned, the changes in the leadership of AUB will be effective on January 1, 2018.
Furthermore, the above election of a member of the Board of Directors and election of officers will go through the requisite processes under the Code of Corporate Governance as well as the appropriate regulations of the Bangko Sentral ng Pilipinas.
Asia United Bank CorporationAUB